And he noted that while one of Italy's largest banks is "basically bankrupt", the UK remains unprotected from further tremors within the European financial system.

"My worry is that the Eurozone goes through a terrible time and that damages British industry," he said. "What we have got to do is go on with Brexit and start making trade deals with other parts of the world starting with - you guessed it - the USA."

Farage added he was concerned that May's government was not committed to Brexit, arguing: "[May's] indecision is putting us on the back foot."

"What we need is some much clearer, firmer leadership. And we may well lose some fantastic opportunities: over 20 countries have approached us since the referendum to say 'can we do a deal?' At the moment we've started formal discussions with not one of them."

The UK is barred from entering into trade talks with other countries while it remains an EU member.